Scholastic, an academic and children’s media company, reported a revenue of $225.6 million, down by nearly 12% from the previous year, resulting in a net loss. The company was impacted by budgetary shifts in public schools, affecting its education solutions unit revenue, which dropped by 28% to over $40 million.

Despite falling short of analyst estimates, Scholastic reaffirmed its guidance for the fiscal year, expecting non-GAAP EBITDA between $160 million to $170 million. Investors are advised to consider other investment options, as The Motley Fool’s Stock Advisor team did not include Scholastic in their list of top 10 stocks for potential high returns.

Read more at Yahoo Finance: Why Scholastic Stock Was Flopping on Friday